United Capital Asset Management on Monday listed 2 billion units of United Capital Wealth for Women bond and 100,000 units of United Capital Nigeria Eurobond Fund on The Nigerian Stock Exchange (NSE).
The listing followed the successful completion of the bonds’ initial public offering, which achieved subscription level of 52.67 per cent, with over 111 units.
The listing followed approval of the allotments for the bond by the Securities and Exchange Commission (SEC). The bond will remain open for subscription due to the open-ended structure of the fund.
Jude Chiemeka, Managing Director of United Capital Asset Management Ltd., said the Eurobond Fund and the United Capital Wealth for Women Fund were to meet the diversified investment portfolio needs of indigenous and global clients.
Chiemeka said that the two new funds would further solidify the company’s position as a market leader in the African investment banking space.
He stated that the current economic challenges had altered investment interests in the market.
He added that “we designed these new products specifically to suit the changing needs of our clients.
“The two products would help in deepening the market and increase choice of investing in the Nigerian capital market.”
Chiemeka explained that the other newly launched Fund, the United Capital Wealth for Women Fund, would encourage women to imbibe savings culture, provide an avenue for women to be financially independent.
According to him, it will also create sustainable foundation for women’s financial empowerment and development in Nigeria.
He said that a maximum of 80 per cent of the fund’s assets would be invested primarily in naira denominated fixed income and high yielding instruments.
Chiemeka added that 20 per cent would be invested in “carefully selected quoted stocks on the exchange.”
